Copy of last
Form 32 filed with RoC, if there has been any change of Directors from
what is mentioned in MoA and AoA

->In case of Individual/ proprietorship firms,
Residential address proof of the proprietor is also needed. The
residential address proof should have been issued by any Governmental
agency and should have a photo of the person (e.g. Driving Licence, Voters
ID card, Passport etc.)

->If the company has an NRI interest, then details
of RBI approval number should be provided alongwith applicaton in Part D
of the same.

->Many DGFT/JDGFT office insist on submitting the
application in duplicate (2 copy). Please check on the same before
submitting the application.

->All the documents alongwith self addressed
envelope should be put in a file and then submitted either in person at
the concerned office or be sent via post to the concerned office.

What is fee for modification in IEC?

No fee is chargeable for
modification in IEC, if informed within 90 days of such changes. After 90 days,
a fee of Rs. 1000/- is charged.

What is the fee for issuance of duplicate IEC?

Rs.200/-

Is PAN Number/PAN card essential?

Yes , PAN is mandatory. Photocopy
of PAN card has to be submitted alongwith the application. If PAN card is not
issued to the applicant then a copy of PAN allotment letter from I.T. Deptt
will also be accepted.

Procedure for a foreign national for obtaining IEC (documents needed)?

Board Resolution, Memorandum of
Association, copy of Passport.

Do Foreigners require residence in India?

Not necessary.

What is RBI’s Automatic approval for obtaining IEC?

Notification No. 20/2000/RBI
dated. 3rd May, 2000.

In case the IEC is received undelivered, what are the documents
required for proving the genuineness of the firm?

Information to Post Office, copy
of Telephone Bill, Electricity Bill copy of Rent deed etc (any one) are
required to confirm about the genuineness of the address.

Why PAN Card’s (both side) is required?

To identify issuing authority’s
address.

What are the documents required for issue of Duplicate IEC?

Duly filled application form
along with application fee of Rs.200/- , a copy of FIR and an affidavit on
stamp paper of Rs.10/- duly notorised.

Where to obtain an IEC?

An application for grant of IEC
number shall be made by the Registered/Head Office of the applicant to the
licensing authority under whose jurisdiction, the registered office in case of
company and Head office in case of others, falls.

What is the tenure of an IEC?

An IEC once issued is permanent
in nature till the same is surrendered by the IEC holder or cancelled by the
Licencing Authority upon any default made be the IEC holder.

How often is the IEC required to be updated?

An IEC once issued needs to be updated
within 90 days in the case of the following:

What is DEPB?

Duty Entitlement Pass Book (DEPB)
is a Duty Credit Entitlement issued on Post Export Basis to neutralise the
incidence of Customs duty on the import content of the export product.

Who can claim a DEPB Entitlement?

Under the DEPB scheme, an
exporter may apply for credit, as a specified percentage of FOB value of
exports, made in freely convertible currency.

How does an exporter ascertain the eligibility of his product to claim
DEPB?

Eligibility for claim of DEPB can
be ascertained with reference to the DEPB Schedule wherein the description of
the export product is either

In such case, exporter should
undertake the exercise of getting SION (Standard Input Output Norms) fixed for
his product and subsequently move for fixation of DEPB Rates.

For this, the exporter should be
very clear of implication of custom duty and excise on input stage level for
his product and effect of the tax component on his pricing.

How can this Duty Credit Entitlement be used?

Such DEPB claimed can be used in
either of 2 ways:

To meet incidence of Customs duty of
imports conducted be himself; or

Transfer such DEPB to an Importer against
consideration;

What is an Advance Authorisation?

An Advance Authorisation is
issued to allow duty free import of inputs, which are physically incorporated
in the export product. The underlying principal is to make available all kinds
of inputs to an exporter free from duties and taxes.

Who can apply for an Advance Authorisation?

A manufacturer – exporter can
apply.

A merchant exporter can also
apply on the basis of a tie up arrangement with a supporting manufacturer.

What forms the basis of applying for an Advance Authorisation?

Govt. of India has announced SION
for around 7200+ items against which an Advance Authorisation can be procured.

However there exists a provision
for getting an Advance Authorisation on self declared norms which subsequently
goes for ratification with the office of DGFT, New Delhi.

What are the conditions governing an Advance Authorisation?

Advance Authorisation and / or
materials imported there under shall not be transferable even after completion
of export obligation, i.e. Actual User condition applies.

Advance Authorisation shall be
issued with a positive value addition while undertaking an Export Obligation
against the duty free imports.

What is the necessity for a Bank Guarantee?

Whenever an exporter undertakes
the imports before exports, he shall have to provide to the customs authority a
bank guarantee to the tune of the duty that would be saved on such imports.

However the exporter is allowed
to release the goods on LUT (Legal Undertaking) in lieu of a BG in specified
cases.

Is it necessary to always import the goods first?

The exporter is allowed to procure
the goods locally from an indigenous supplier against the advance
authorisation.

In cases where exports are
conducted prior to imports, no Bank guarantee shall be required.

What is the validity of the authorisation?

Validity of the authorisation is 24
months from date of issue for both and export and import with a provision of
extension for both on paying appropriate fees.

Which exports are considered in fulfillment of E.O.?

The export made has to be a DEEC
shipment in the Customs records to be qualified as an export against the
advance authorisation.

The E.O. is treated to be
fulfilled when proper accounting is being placed before the regional authority
who when satisfied will issue a discharge letter.

What qualifies as “Capital Goods” for the EPCG Scheme?

"Capital Goods" means
any plant machinery, equipment or accessories required for manufacture or
production, either directly or indirectly, of goods or for rendering services,
including those required for replacement, modernisation, technological upgradation
or expansion.

Who can get exemption from Bank Guarantee?

All the exporters who have an
export turnover of at least Rupees 5 Crore in the current or preceding
licencing year and have a good track record of three years of exports will be
exempted from furnishing a BG for any of the schemes under this Policy and may
furnish a LUT in lieu of BG.

Is Export of Spares allowed?

Warranty spares, whether
indigenous or imported, of plant, equipment, machinery, automobiles or any
other goods, except those restricted under ITC (HS), may be exported along with
the main equipment or subsequently but within the contracted warranty period of
such goods subject to approval of RBI.